Macy's returned to a fourth-quarter profit as lower expenses helped the department store operator even as sales dipped.
During the holidays, Macy's kept a tight lid on inventory to avoid having to clear items out at steep discounts, which cost it in 2008.
The nation's second-largest department store chain expects 2010 profit in range of analysts' views.
Macy's earned $466 million, or $1.10 per share. Adjusted profit was $1.40 per share, which beat Wall Street's $1.32-per-share estimate.
Last year's fourth quarter included hefty charges totaling 30 cents per share.
Sales slipped 1 percent to $7.85 billion, but met analysts' expectations.
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